The price of housing in different states of Mexico has experienced significant increases in recent years. In Colima, for example, there was a 55% increase, going from an average of below one million pesos in 2020 to 1 million 349 thousand 122 pesos in 2024, representing an extra investment of 478 thousand 562 pesos. The largest year-on-year variation occurred in 2021 with a rise of 18.7%.
On the other hand, in Baja California Sur, the average value of housing increased by 87.3%, with a rise from 1 million 207 thousand 369 to 2 million 260 thousand 946 pesos in the last four years. The highest year-on-year variation was recorded in 2022 with a rise of 19.7%.
In Sinaloa, despite security problems, there has also been a 75.1% increase in the average value of housing. In Nuevo León, the average price of houses and apartments rose by 53.9%, from 1 million 138 thousand 467 to 1 million 751 thousand 725 pesos. Quintana Roo, for its part, has experienced a variation of 55.1% in the average value of properties.
Regarding Yucatán, the price of properties has increased by 78.4% in four years. Sonora shows a 63.1% increase in the same period. Coahuila is one of the states with favorable conditions to attract nearshoring-related investment, with a 35.33% increase in housing prices.
These increases in housing prices are due to different factors. Inflation, the impact of the Covid-19 pandemic in 2020, the high housing demand that is not 100% covered, as well as gentrification and infrastructure development are some of the elements that have contributed to this upward trend.
Additionally, the phenomenon of nearshoring and the relocation of foreign companies in Mexican territory have contributed to infrastructure development in certain states, which in turn has generated urban growth and a greater demand for housing. This situation has led to annual increases in housing prices of over 50% in some cases.
